Hertz is an American car rental company, operating under Hertz Corporation, which includes Hertz Rent a Car and several other vehicle-related companies, including Hertz Truck & Van Rental, Hertz Equipment Rental and Hertz Car Sales. Hertz Rent a Car is the original company, and has expanded into an international franchise with 145 locations worldwide. Hertz is the world’s largest airport general use car rental brand.
Facts & Figures
Liquid capital required
Net worth required
Hertz is adding new franchises in the United States and Canada for a limited time, and is seeking sophisticated, entrepreneurial business people to join the company as franchise owners. The company is also seeking franchisees in countries beyond North America. Hertz franchisees receive training and assistance with pricing decisions, promotion and marketing, as well as access to the company’s state-of-the-art point-of-sale computer integration reservation system.
Hertz Franchise Opportunities – History
Hertz was founded in 1918 by Walter L. Jacobs, in Chicago, as a car rental company, with a dozen Model T Fords. Jacobs sold the business in 1923 to John D. Hertz, who owned Yellow Truck and Coach Manufacturing Company. Hertz renamed his company ‘Hertz Drive-Ur-Self System,’ and sold his Yellow Truck company to General Motors (later buying it back from GM). Hertz ownership has changed hands several times through its history. In 1987, Hertz was sold to ‘Park Ridge Corporation,’ which was owned by Ford Motor Company and members of Hertz senior management.
Hertz Franchise Cost / Initial Investment / Hertz Franchise Income
The initial franchise fee to become a Hertz franchisee varies, determined by size of fleet, location and demographic considerations. To become a Hertz franchised requires a net worth of $500,000, with liquid capital available of at least $150,000. The total revenue generated by Hertz Global Holdings, Inc., in 2011 was $8.3 billion.
Hertz Business Opportunities: Other Information
Hertz launched a ‘green collection’ of cars in 2006, a fleet of rental including the Toyota Prius, Ford Fusion, Buick LaCrosse, Toyota Camry and Hyundai Sonata, all featuring highway fuel efficiency ratings of at least 28 miles-per-gallon. In 2007, Hertz launched a global hybrid rental program in conjunction with a $1 million donation to the National Parks Foundation.
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